Builder Confidence Holding Steady
Builder confidence in new single-family home construction was flat in March, holding at 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
“Confidence levels are hovering above the 50-point mid-range, indicating that the single-family market continues to make slow but steady progress,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Ill. “However, builders continue to report problems regarding a shortage of lots and labor.”
The March HMI reading correlates with NAHB’s forecast of a steady firming of the single-family sector, said NAHB Chief Economist David Crowe. “Solid job growth, low mortgage rates and improving mortgage availability will help keep the housing market on a gradual upward trajectory in the coming months.”
The NAHB's news release is here. The association has more housing statistics available at housingeconomics.com.
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